Our M&A lawyers are among the most experienced and effective in the world. We represent many of the world's largest publicly traded and privately held companies, as well as leading private equity firms on their most important mergers, acquisitions and takeover transactions.
Blackstone Real Estate to Acquire Tricon Residential in $3.5 Billion Deal
- Client News
- January 19, 2024
Paul, Weiss is advising Toronto-based Tricon Residential Inc. in its $3.5 billion take-private acquisition by Blackstone Real Estate Partners X and Blackstone Real Estate Income Trust, Inc. Tricon is a NYSE-listed owner, operator and developer of approximately 38,000 rental homes in the U.S. and Canada. The transaction is structured as a statutory plan of arrangement under the Business Corporations Act (Ontario) and is expected to close in the second quarter of this year, subject to customary closing conditions and approvals.
Under Blackstone’s ownership, Tricon plans to complete its $1 billion development pipeline of new single-family rental homes in the U.S. and $2.5 billion of new apartments in Canada.
The Paul, Weiss team is led by corporate partners Matthew Abbott, Christopher Cummings and Brian Lavin, and includes counsel Todd Hahn and Rosita Lee; tax partner Scott Sontag; executive compensation partner Lawrence Witdorchic; real estate partner Salvatore Gogliormella; antitrust counsel Marta Kelly and Yuni Sobel.